DUSHANBE, February 20, 2013, Asia-Plus -- On Wednesday February 20, the Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament) endorsed an amendment to the country’s mortgage law, which allows getting a loan against land (with the right of use and with the right of foreclosure).

Presenting the bill requiring amendments to the country’s mortgage law, the deputy head of the National Bank of Tajikistan (NBT), Abukarim Nematov, noted that the draft law was aimed at promoting acceleration of reforms in the agrarian sector.  Besides, this measure will allow speeding up the procedure of providing bank loans to farming units and separate farmers, Nematov added.

MP Shodi Sahbdolov, however, considers that it is illogical for Tajikistan to get a loan against land “because all land in Tajikistan is the property of the state  and it is not liable to purchase or sale.”

According to him, this law will just promote further flourishing of the illegal purchase and sale of land in the country.

MP Mahmadali Vatanov, for his part, noted that the proposed amendments were in compliance with Tajikistan’s land code adopted last summer.

Parliamentarians passed the law by a majority of the votes cast.